12 USC 635a-6 - Periodic audits of bank transactions

U.S Code last checked for updates: May 08, 2024

§ 635a–6.

Periodic audits of bank transactions

(a)

In general

(b)

Review of fraud controls

Not later than 4 years after December 4, 2015, and every 4 years thereafter, the Comptroller General of the United States shall—

(1)

review the adequacy of the design and effectiveness of the controls used by the Export-Import Bank of the United States to prevent, detect, and investigate fraudulent applications for loans and guarantees and the compliance by the Bank with the controls, including by auditing a sample of Bank transactions; and

(2)

submit a written report regarding the findings of the review and providing such recommendations with respect to the controls described in paragraph (1) as the Comptroller General deems appropriate to—

(A)

the Committee on Banking, Housing, and Urban Affairs and the Committee on Appropriations of the Senate; and

(B)

the Committee on Financial Services and the Committee on Appropriations of the House of Representatives.

(Pub. L. 112–122, § 17, May 30, 2012, 126 Stat. 359; Pub. L. 114–94, div. E, title LI, § 51003, Dec. 4, 2015, 129 Stat. 1763.)

cite as: 12 USC 635a-6